LeLe Pons & Enrique Iglesias - Songwriting and Publishing Royalties

"Se Te Nota" arrived in September 2020, featuring Lele Pons and Guaynaa. It went 3× Platinum in the US Latin market, 2× Diamond in Mexico, and Platinum in Spain. "Pendejo" followed a year later, with Enrique Iglesias, No. 33 on Billboard's Hot Latin Songs chart. Five and six years on, both are still collecting. And not just in a handful of big markets. In eighty countries.

Streaming does the heavy lifting at 86.8% of the last twelve months. It earns every day, in every market where the big services operate. Half the money comes from the United States. The other half comes from everywhere else: Spain, Mexico, Colombia, Germany, Argentina, then a long run through Canada, France, Italy, the UK and beyond. That map matches where the songs went certified.

The map is also still growing. This year Chile paid on these songs for the first time. Royalties for plays from 2020, 2021 and 2022 keep landing in almost every statement. A catalog this young has not finished being collected.

Read the numbers with that in mind. Chile is 14.3% of the last twelve months and paid $29 the year before, so treat it as one society settling up, not a new audience. Reported earnings are 4.3% below last year. Take out Chile and the old back payments, and everyday income is easing about 13%. There are two songs, and "Se Te Nota" is 65% of the total. US income is easing about 25% while overseas holds. The dollars are easing. The map is not.

For an investor, this is a focused bet on two proven Latin pop records the world is still catching up to. The rights last for the life of the copyright, and every late payment that shows up belongs to the buyer.

Two Latin pop records built to travel across the Spanish-speaking world.

"Se Te Nota" is the September 2020 single from Venezuelan-American artist Lele Pons with Puerto Rican rapper Guaynaa. It peaked at No. 33 on Billboard's Hot Latin Songs chart and carries the catalog's heaviest certifications: 3× Platinum from the RIAA's Latin division, 2× Diamond in Mexico, Platinum in Spain, and Gold in Italy.

"Pendejo" arrived in September 2021 on Enrique Iglesias' eleventh studio album, Final (Vol. 1), and was his first single since 2013 without a featured artist. It reached No. 33 on Hot Latin Songs and No. 13 on Latin Pop Airplay, with top-ten airplay across Argentina, Guatemala, Panama, Costa Rica, and Puerto Rico.

One leans toward Latin America and the US Latin market; the other draws a meaningful share from Western Europe.

Admin Note. Publishing administration for this catalog is transferring from Songtrust to Kobalt.

Earnings Note. 1Q-2023, 2Q-2023, and 3Q-2023 contain mechanical streaming catch-up payments (approximately $2,500, $3,300, and $2,200, respectively) from the CRB Phonorecords IV retroactive rate revision, covering 2020–2022 performance periods; approximately $1,350 in similar catch-ups continues to land in the current trailing-12-month window. Any further catch-up payments are payable to the buyer.

Earnings Note. The Earnings by Period chart below reflects royalty payments based on two distinct statement sets from different payors. The Last 12 Months include:

BMI Statements: 1Q-2025 through 4Q-2025 (Quarterly)
SongTrust Statements: 2Q-2025 through 1Q-2026 (Quarterly)